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In the quarter, Energy Transfer’s total revenues amounted to $13,121 million, which lagged the Zacks Consensus Estimate of $13,973 million by 6.10%. However, total revenues rose 10.4% from the year-ago quarter’s figure of $11,882 million.

In March 2019, Energy Transfer and Phillips 66 Partners LPannounced that the second phase of the Bayou Bridge pipeline was ready for service.

Total costs and expenses amounted to $11,194 million, up 3.8% from $10,782 million in the year-ago quarter. The increase can be primarily attributed to higher cost of products sold,operating expenses, depreciation, depletion, amortization costs and impairment losses.

Operating income totaled $1,927 million in the first quarter, up 75.2% from the year-ago quarter’s figure of $1,100 million.

Total interest expenses increased 26.6% to $590 million from $466 million in the year-ago quarter.

Financial Condition

As of Mar 31, 2019, Energy Transfer had current assets of $7,127 million, down from $6,750 million as of Dec 31, 2018.

As of Mar 31, 2019, the company had long-term debt (excluding current maturities) of $46,373 million, down from $43,373 million as of Dec 31, 2018.

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